Restrictions tighten to get in to Victoria as blame continues on Victorian Premier Daniel Andrews. Deloitte cuts staff and tax relief may come soon according to Josh Frydenberg
The creation of an integrated monitoring and governance platform for Tailing Storage Facilities is a cause of Memorandum of Understanding between K2Fly and Decipher. According to Chief Commercial Officer Nic Pollock, the synergy is about best practice and ensuring the stipulations in place by governing bodies are adhered to. “Our proposed solution will ensure industry has access to a significantly better tool to aid monitoring and governance of TSFs to recognised standards. The solution reflects best practice and will support compliance with the Global Industry Standard on Tailings Management recently endorsed by the International Council on Mining and Metals (ICMM) and other Global Tailings Review convenors, as well as standards set by national regulatory bodies,” he said. Decipher is a Perth cloud based company which helps manage the earth’s resources to be more sustainable and profitable and is part of Wesfarmers
Apollo Consolidated has hit found some significant new gold intercepts at Lake Rebecca Gold Project which will lead to follow up. 6m @ 9.72/t Au (including 1m @ 49.8g/t Au) was located within 2km of the Duchess deposit and has been identified for an immediate follow up. The results of the RC drilling has been found in a prospective corridor north east of the Duchess gold deposit. The combined drilling along this magnetic/structural corridor suggests excellent potential for significant new gold mineralisation. The drilling program was designed to continue on the February 2020 maiden estimate, which combined in-situ Mineral Resources of 27.1 million tonnes at 1.2g/t Au for 1.035 million ounces of gold. Now results demonstrate potential for new Mineral Resources in broader Project area.
Saracen Minerals have released a June production update which has shown 145,830oz. Of which the KCGM Super Pit (Joint venture with Northern Star Resources) has produced 53,398oz, while Carosue Dam produced 50,315oz and Thunderbox 42,117oz. Results show a FY20 production figure of a record 520,414oz which was around 20,000oz above guidance. Managing Director Raleigh Finlayson said “We have now met or exceeded guidance for seven straight financial years,” he said. “We are also meeting our undertakings to continue driving growth and we expect this to be clearly evident in our strong news flow over the coming months.” Mr Finlayson has recently been featured on an Industry Link Media podcast discussing Saracen and its Super Pit buy.
Northern Star Resources has announced its June quarter update. The KCGM Joint Venture holder has announced its postponed FY20 interim dividend of A7.5¢ to be paid on July 16, 2020 – fully franked. Northern Star also drew down an additional A$200 million in debt in the March quarter but advised the market today it has repaid that A$200 million on July 6 2020. The Jundee Operation produced 80,666oz for the June quarter and 300,150oz for FY20 while Pogo produced 49,353oz for quarter and 174,307 for FY20. The Kalgoorlie operations produced 83,945oz for June quarter and 318,759oz for FY20 which saw overall milled tonnes increasing by 10%, head grade increasing by 4% and gold production increasing by 13% compared to the March quarter. And as reported the KCGM Super Pit focus turned to expanding the available open pit mining front 53,397oz per June quarter and 111,961oz for the FY 20. According to Bill Beament, Executive Chairman Northern Star Resources “The results at our Pogo mine in Alaska were particularly pleasing given the challenging circumstances emanating from COVID-19 where we effectively managed safe operations with 36 confirmed cases through the quarter. Despite the considerable impacts of COVID-19 at Pogo, the underlying trend of rising production and productivity continued. This further demonstrates the huge potential of this asset in more conventional circumstances. The teams at our Jundee and Kalgoorlie Operations excelled and we made strong progress towards our goal of unlocking the significant upside at KCGM.”
3D Resources has announced a maiden drill program for the Adelong Goldfield in New South Wales. Drilling is expected to start on August 10 2020. Initial focus will start on drilling at Donkey Hill and then continue to Currajong, where the inclusion of which has only recently been approved into the amended mine operation plan. 3D Chairman Ian Hastings said “The Company is excited to announce our maiden drilling program at the Adelong Goldfield Projects scheduled to start next month. Concurrently, we continue to progress our strategic review with a focus on maximising impact for our shareholders. We see tremendous opportunity across the Adelong Goldfields Projects and I look forward to working with the Board to unlock the potential in the coming months.”